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    • Thu Oct 9th 18:06 PM | Rating: 0 0
      Commented on:
      The $60 Trillion Nightmare of Credit Default Swaps
      To Rocknbob,
      Actually ‘rake’ is a misnomer; I should’ve just said fee or commission in addition to the $700 billion. Sorry for the confusion.
      ‘Rake’ is a term used in reference to the house’s (casino’s) ‘take’ or commission removed from the total ante in various card games.
      More specifically, a 20% rake on $700 billion would be $140 billion for the house (pun intended…as in Congress), leaving the winner (the banks, ins. cos., etc…) with $560 billion and me with the, now obvious, misnomer.
      View article »
    • Wed Oct 8th 14:50 PM | Rating: 0 0
      Commented on:
      The $60 Trillion Nightmare of Credit Default Swaps
      Amen, brother…you too Bones!!!

      My take on the situation is that because the solution to the ‘credit freeze’ is so simple, i.e. “…simultaneously, providing a regulated, transparent Credit Default Swap market on major exchanges like the CME and allow the transition to be as seamless as possible…”, there are very influential ‘counterparties / players’ that don’t want to end that $62 trillion game.

      What is needed in this instance are some leaders with sufficient authority and the balls to bust up that illegal racket. I don’t think we have any that in this country. Our leaders require a piece of the action before they’ll do anything.

      Look at the 20% rake on the $700 billion bailout bill…now $840 billion. How much is 20% of the $62 trillion CDS Market???? That’s the problem!!!

      CZ
      View article »
    • Tue Sep 16th 17:08 PM | Rating: 0 0
      Commented on:
      Law of Supply & Demand Is Dead for Gold & Silver
      'blatantly manipulation' in the markets...well, duh!!!
      View article »
    • Sun Jul 27th 15:45 PM | Rating: 0 0
      Commented on:
      Can One Profit From Poor Customer Service?
      7-27-08

      Ethan,
      Current ‘usury laws’ (100% [or more] interest is legal) and bankruptcy laws (have to pay all credit card debts) alone, pad the bottom line for all businesses like never before. Profits in the last 7.5 years have never been higher for businesses in the history of accounting.

      Include preferential taxation for corporations and their executives along with uninforced regulations of all kinds (consumer, fraud, tax, etc…) and it’s no wonder that executives and managers don’t give a shit about their customers; they don’t have to be concerned.

      They’re ‘earning’ more money than they could have ever imagined and no number of complaints or law suits will change that behavior towards their customers. They own the politicians (who let them write their own laws) and the politicians own the courts (if a complaint ever gets that far).

      Even the companies that are near bankruptcy are still more viable and able to treat their customers with contempt longer than normal because of the current ‘business friendly’ environment. And, there’s nothing we can do about it…at least until the time we can elect more law abiding, consumer friendly politicians.

      So, when you go to vote, just remember who made corporate loan sharking and ‘tax evasion’ legal. That’s right; it’s the same bunch that’s on the verge of putting the world markets into a global depression by allowing other ‘innovative financial instruments’ to flourish (see current ‘banking crises’).

      It’s the same guys that have already turned this country into a ‘Big Brother’ (see current privacy laws) and Socialist (see ‘loan shark’ bail out) nation. It’s the same guys that have intentionally caused a ‘supply destruction’ of oil (for the past half decade) in Iraq, which has pushed the price of oil, gas, food, etc… to ‘usury’ like levels.

      Yes, it’s the same guys that think the general public (both, socialist democrats and socialist republicans) haven’t wised up after eight years of being under their thumb.

      It’s the same guys that will tell you everything’s ok as they cash in (Enron style) on one of the boldest US consumer and US Treasury heists in our nation’s history.

      It’s the same guys that will tell you we’re the greatest nation on the face of the earth while we quickly back step into something that resembles more of a third rate, worthless currency (pending double digit inflation rate), no world respect, socialist kinda’ country.

      So, let’s not just piss and moan about the snotty assed kids that are probably spittin’ on our burgers while text messaging on their cell phones and short changing us after we hand them a near worthless twenty dollar bill, lets go right to the root cause of the problem and vote for the people who won’t make it so easy for the corporate bosses to create and nurture a culture that thrives on treating the consumer with disdain while robbing them blind.

      Here’s another guy that feels the same way:

      online.wsj.com/public/...
      View article »
    • Sat Jun 14th 22:13 PM | Rating: 0 0
      Commented on:
      Friday's Options Update: WB, ZION, BAC, MRVL, GE, KO, LEH, CLX, AAPL, FITB, IGT
      ...how about a Credit Default Swap update, Andy??
      View article »
    • Mon May 26th 13:08 PM | Rating: 0 0
      Commented on:
      Oil Companies Paid More Than Bottom 75% of Taxpayers
      ...sorry, I mean Mark.
      View article »
    • Mon May 26th 13:06 PM | Rating: 0 0
      Commented on:
      Oil Companies Paid More Than Bottom 75% of Taxpayers
      Barry,
      What were the gross earnings and specific deductions for both classes of tax payers mentioned in your article??
      View article »
    • Mon May 26th 12:27 PM | Rating: 0 0
      Commented on:
      Oil on Trial - Fast Money Recap (5/21/08)
      "Large oil companies were asked to answer for high oil prices as they testified before the Senate on Wednesday. The companies defended the prices, saying they were based on normal supply and demand…"

      This is not true; the oil executives said there was ample supply!!!! (source: CSPAN)

      "Michael Masters testified before Congress that speculation is driving oil and suggests preventing pension funds from investing in oil and would make it more difficult for financial institutions to forego limits on speculative positions."

      This is also 'supply and demand'…the kind that makes you wonder where all of those Enron traders are working now. That story (Enron) is now worth a quick review. The similarities of political and corporate corruption are a little scary when the implications of national consequences are compared to what happened in CA.

      Here are a couple excerpts from en.wikipedia.org/wiki/... :

      After extensive investigation The Federal Energy Regulatory Commission (FERC) substantially agreed in 2003:[4]
      "...supply-demand imbalance, flawed market design and inconsistent rules made possible significant market manipulation as delineated in final investigation report. Without underlying market dysfunction, attempts to manipulate the market would not be successful."
      "...many trading strategies employed by Enron and other companies violated the anti-gaming provisions..."


      Former Governor Gray Davis: "I inherited the energy deregulation scheme which put us all at the mercy of the big energy producers. We got no help from the Federal government. In fact, when I was fighting Enron and the other energy companies, these same companies were sitting down with Vice President Cheney to draft a national energy strategy."
      View article »
    • Mon Apr 28th 09:53 AM | Rating: 0 0
      Commented on:
      Let's Think Long and Hard About Extending Those Bush Tax Cuts
      Why doesn't somebody (who knows) write an article explaining who gets how much of a tax cut now, why those cuts haven't solved all of our economic woes to date (as everyone in favor of the cuts imply), and when the liberals refuse to extend such a no-brainer-cure-all for economic nirvana will the economy then instantaneously self destruct???
      View article »
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